A study of student loans and their relation to higher educational finance

Bibliographic data

Monograph

Identifikator:: 1028402236

URN:: urn:nbn:de:zbw-retromon-41825

Document type:: Monograph

Author:: Chassee, Leo Jeannot

Title:: A study of student loans and their relation to higher educational finance

Place of publication:: New York

Publisher:: Harmon Foundation, Inc.

Year of publication:: 1925

Scope:: 1 Online-Ressource (170 Seiten)

Digitisation:: 2018

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

16 A Study of Student Loans other than commercial usefulness. The outworn appeals of “loyalty to one’s Alma Mater,” “for the good of society,” and “the uplift of man- kind” are empty phrases which are out of harmony with modern changes in human Organization. Our education must be put on a more individualistic basis and the individual must pay a larger share of the cost, depending upon the kind of value which can be assigned to the training he receives. If the individual is to pay for a larger proportion of his education, he will have to be guided how to meet these new demands both through a wiser use of the resources at his command and through making available to him additional resources in the form of loans. In Order to secure funds so to assist him, it will be necessary that they be administered under busi- ness principles. If a higher price is to be placed upon higher education, it will be necessary to study higher educational finance not only as it has been studied from the standpoint of costs, but from the standpoint of benefits derived by those who come in contact with it and the benefits given to society as a whole. Thousands of dollars have been spent to study the cost of higher education, but there has been great reluctance and no attempt to estimate the values which higher education produces and what price should be placed on such values. Perhaps higher education has no value to either the individual or society; its efforts may be producing negative results for all we know. It is necessary that we show what results higher education is producing over a long period of time, that we assign values to these, and that we Charge proportionately. If this is not possible, we must declare higher education bankrupt. To say that it is not bankrupt, the results which higher education brings about must be shown to possess values sufficiently above cost to make it worthwhile for universities and Colleges to continue and it must be shown also that it is a paying proposition for cer- tain individuals to purchase the Services of these institutions on credit. A higher price for higher education may be justified by the fact that in so far as it is deemed theoretically right for “the consumer to pay the freight”, it is right for the educated to pay for his education. The adoption of a sound Student loan plan would permit Colleges to increase fees to meet costs, except where state institutions are strongly competitive, and in time they will have to follow the trend in fairness to their tax paying constituency. When the consumer is not able to “pay the freight” in cash, the costs are not written off against him, but an agreement is entered into for payment when the goods have enabled him to secure the necessary funds. So too, in education the Services should not be given away simply because the consumer is unable to pay at the time, but they should be extended to him on a definite credit basis which should consist of well administered Student loans.

Access restriction

Copyright

fullscreen: A study of student loans and their relation to higher educational finance

Monograph

Table of contents

Download

Monograph

This page

Image fragment

Citation links

Citation recommendation